Euroclear Adds Five to Fund Service

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Euroclear has signed five UK fund managers to its settlement and reconciliation service.

Euroclear UK and Ireland has announced the addition of five new fund managers to its investment fund service for post-trade functions.

Aviva Investors, Legg Mason Global Asset Management, Martin Currie Investment Management, Neptune Investment Management and Royal London Asset Management have all signed for the service, which automates settlement and reconciliation process with the central securities depository. All five already take automated order routing services from Euroclear.

"Euroclear UK & Ireland's fund services enable Neptune to provide its clients with clarity and risk-avoidance afforded by real-time balance reconciliation," says Pritie Sharma, head of investor services at Neptune. "Cash and unit balance movements now happen in tandem, which was not the case previously."

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